Splendid® and Ella Moss® Relocating Corporate Headquarters to Thriving Fashion Hub in Downtown Los Angeles

L.A. fashion brands bolster area’s growing reputation as “place to be” for the creative and trendy community

LOS ANGELES--()--Contemporary lifestyle fashion labels Splendid® and Ella Moss® are relocating their corporate headquarters to Alameda Square in Downtown Los Angeles, building on the area’s growing reputation as a center for fashion on the West Coast.

Splendid® and Ella Moss®, brands owned by the global leader in branded lifestyle apparel and footwear VF Corporation, have signed a 10-year lease with EVOQ Properties, Inc. (OTC BB - EVOQ.PK) to occupy 82,000 square feet of Building 1 at Alameda Square (located at 777 Alameda). The two brands are expected to move during the first quarter of 2013.

“We started and grew up in Los Angeles, so it is important that we remain true to our heritage,” said Jonathan Saven, President of Splendid® and Ella Moss®. “The growth of our brands in the last decade has been remarkable, and the larger space will help us expand. The Alameda Square building is a perfect fit for us because of its historic nature, natural light and 360-degree views.”

The building’s location near the burgeoning Arts District – home to numerous inventive businesses, including fashion houses, artists, designers, architects and galleries – and the Fashion District puts it at the center of the Downtown creative community. Other fashion brands in the area include American Apparel and Lucky Brands.

The new Splendid® and Ella Moss® corporate headquarters, which covers two full floors, will house approximately 200 employees in product development, design, marketing and sales, finance, retail operations, customer service as well as other administrative functions. Approximately 100 employees will remain in its current space at 3751 South Hill Street in Los Angeles where they will continue to operate their finished goods & fabric warehouse.

EVOQ Properties is one of the largest commercial property owners in Downtown with holdings in industrial, office, retail, residential and mixed-use real estate.

“We found a company that shares a similar vision for Downtown Los Angeles – to stay and make it better,” said Martin Caverly, CEO of EVOQ Properties. “Like EVOQ, Splendid® and Ella Moss® have seen the Downtown renaissance in the last decade and are committed to being part of this momentum for the next 10 years.”

“The moves by marquee brands like Splendid® and Ella Moss® add to the growing roster of businesses that want to stay and invest in Los Angeles,” said Los Angeles City Mayor Antonio Villaraigosa. "We fought hard to bring and keep State Enterprise Zones in Downtown Los Angeles so that businesses can stay competitive while bringing hundreds of jobs to the City. The commitment of Splendid® and Ella Moss® to the area spotlight Los Angeles as an attractive city for businesses and their employees.”

“Like many visionaries and entrepreneurs who have paved the way for Downtown’s revitalization, Splendid® and Ella Moss®’ long-term investment in the area is reflective of the growing movement of expanding business operations throughout Downtown, bringing jobs, services and an economic boost to the entire region," said Councilmember José Huizar. "By setting up operations at Alameda Square, Splendid® and Ella Moss® are sending a clear signal to other creative companies that Downtown is open for business and the place to be.”

Saven added that the company’s decision to remain in Downtown Los Angeles was impacted by the ability to stay in an Enterprise Zone area and this designation was important as they evaluated multiple locations.

To meet the specific needs of Splendid® and Ella Moss®, EVOQ is making multi-million dollar improvements to the building and the overall campus. Renovations have already started, and include conversion of the historic building to a state-of-the-art creative office with large warehouse windows, exposed concrete floors / ceiling and open floor plan; conversion of the ground floor and loading dock into retail, restaurant and outdoor public space; and addition of a 6000-square-foot roof deck and kitchen with dramatic views of the Downtown skyline.

EVOQ’s Alameda Square complex includes four buildings covering 1.4 million square feet with American Apparel’s headquarters occupying half of the space. The property has a rich history as a key commercial hub in the region. The warehouse complex and adjacent product market was designed for the Los Angeles Union Terminal Company. Southern Pacific Railroad completed the construction in 1923 and operated the property as a major intermodal produce market and distribution center connecting Downtown to the rest of the L.A. region.

“The revitalization of Alameda Square reflects our company’s mission of bringing forth a new vision with new investment and new companies to Downtown L.A., creating a community where creative industries can thrive,” added Caverly.

Phil Lombardo of Cushman & Wakefield represented VF Corporation while John Zanetos and Will Adams of CB Richard Ellis represented EVOQ in the transaction.

Splendid® is a complete lifestyle brand offering collections for women, men and children with an unmatched approach to casual dressing. Known for its signature stripes and vibrant color, the brand delivers comfortable, classic, effortless style. Ella Moss® offers contemporary fashion for women and girls and is noted for its bold patterns, dramatic dresses and modern styling.

About EVOQ Properties Inc.

EVOQ is one of the largest property owners in downtown Los Angeles, with holdings in industrial, office, retail, residential, and mixed-use real estate. For additional information on EVOQ and its properties, please visit the Company’s website at EvoqProperties.com.

About Ella Moss®

Ella Moss® is a contemporary fashion brand featuring feminine, flirty, whimsical designs inspired by travel, art and music. The collection captures the laid-back sophistication of its Los Angeles roots while offering coveted must-haves for the modern girl’s dream closet. The brand’s unique prints, daring styling and modern twists on vintage finds allows for creating distinctive personal style. Founded in 2001 by designer Pamella Protzel Scott, the Ella Moss® assortment includes ready-to-wear, footwear and swim and can be found at the Ella Moss boutique in Newport Beach, CA as well as at better department and specialty stores domestically, abroad and online. For further brand information or to shop online visit EllaMoss.com.

About Splendid®

The Splendid® brand is the culmination of a ten year quest to create the ultimate t-shirt. The success in designing an extraordinarily soft material cut into perfectly chic silhouettes was the platform for what is now a complete lifestyle collection of ultra-comfortable, effortlessly stylish collections for women, men, kids and babies. Known for its vibrant palette and bold stripes, Splendid® offers classic, colorful styles across multiple product categories including apparel, outerwear, footwear and swim. Splendid® can be found at its twelve retail locations in the US and Canada as well as at high-end department and specialty stores domestically, internationally and online. For a full listing of stores, to shop online or for additional brand information visit Splendid.com.

Forward Looking Statements

This release contains forward-looking statements that are made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are generally accompanied by words such as "anticipate," "continues," "expect," "forecast," "outlook," "believe," "estimate," "should" and "will" and words of similar effect that convey future meaning, concerning the Company's operations, economic performance and management's best judgment as to what may occur in the future. Future events involve risks and uncertainties that may cause actual results to differ materially from those we currently anticipate. The actual results for the current and future periods and other corporate developments will depend upon a number of economic, competitive and other influences. Many of these risks and uncertainties are beyond the control of the Company, and any one of which, or a combination of which, could materially and adversely affect the results of the Company's operations and its financial condition. We undertake no obligation to update information contained in this release.

Contacts

Grayling for EVOQ Properties
Christie Ly, 213-802-1153
christie.ly@grayling.com
or
Splendid® and Ella Moss®
Julia Austin, 212-730-7333 ext. 212
julia_austin@ellamoss.com

Release Summary

Splendid and Ella Moss fashion brands sign 10-year lease with EVOQ Properties to move their corporate headquarters to Alameda Square in Downtown Los Angeles

Sharing

Contacts

Grayling for EVOQ Properties
Christie Ly, 213-802-1153
christie.ly@grayling.com
or
Splendid® and Ella Moss®
Julia Austin, 212-730-7333 ext. 212
julia_austin@ellamoss.com